Metro India News | Hyderabad 

Cybercrime police arrested a 27-year-old person, who was involved in investment and stock trading fraud on Tuesday.   Arrested person has been identified as Shiva Shankar, native of Noida in Uttar Pradesh state. Accused person involved in two cases across India and one case in Telangana.

The victim, a 35-year-old Private employee from Hyderabad, received a WhatsApp message from the number +917044970887, offering online stock investment ideas for the stock market. The fraudster provided a link to join their WhatsApp group, where they claimed to offer institutional stocks, OTC stocks and Samco group stocks promising high profits in a short time.

Believing their promises to be genuine, the victim proceeded to transfer a significant amount of money from his bank accounts. The scammers claimed that his investments were in bulk stocks and IPOs, which would yield a huge profit of 20% on his invested capital. On their application, he could see apparent profits. However, when he decided to withdraw his profits, they informed him that the amount was still tied up in the so-called IPOs.

When he insisted on withdrawing his earnings, they demanded that he deposit an additional amount.  At this point, he realized it was a scam and demanded a refund. He attempted to contact them via phone and messages, but they did not respond. Eventually, they blocked his access to chats and calls. In total, the victim lost Rs 14,63,046. Police have seized two cell phones, four cheque books and two debit cards from the arrested person.